Fatih Yücelik, the Chairman of TÜRKÇİMENTO, Appeared on CNBC-e’s Emlak Günlüğü (Property Diaries) Show

Fatih Yücelik, the Chairman of TÜRKÇİMENTO, appeared on the Emlak Günlüğü program, which is broadcast online on CNBC-e, on December 10, 2024, providing insights regarding the future of the sector. 

In analyzing the internal and external dynamics of the year 2025, Yücelik commented: “We anticipate that the repercussions of earthquake housing on the industry will persist, albeit at a reduced intensity. Urban transformation projects are likely to be pivotal in sustaining this trend over the year”. He further indicated that a potential easing of interest rates – dependent on a shift in policymakers’ inflation projections – would improve consumer access to credit, potentially leading to a positive outlook for the sector. On the other hand, if economic cooling measures remain in place, we could see a reduction in the number of new projects, which might adversely impact cement sales. 

Regarding the external dynamics, Yücelik remarked: “The conclusion of presidential elections in the United States and the resolution of conflicts in Syria suggest that the region may experience a restructuring process, which could result in an active period for exports. Furthermore, a potential ceasefire in Ukraine is likely to make 2025 a period focused on exports for the cement sector”. 

In evaluating the year 2024, Yücelik noted that rising construction costs and housing loan interest rates have contributed to a decline in new housing developments, resulting in an inability to achieve anticipated levels of cement consumption. Furthermore, geopolitical uncertainties have led to a decrease in demand both in the domestic market and for exports. Yücelik emphasized that while internal sales have shown signs of recovery, driven by earthquake housing initiatives and urban transformation projects, the overall export market experienced a contraction of 3%. Conversely, exports of clinker, which is classified as an intermediate product, increased by 43%. 

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